Pension (Risk Transfer) Actuary, Administrator, Paralegal

Who We Are

At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.

We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life:

• We are stronger as one: We collaborate across the enterprise, scale what works and act   decisively for our customers and partners.
• We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders.
• We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future.
• We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.

Who You’ll Work With

The Institutional Markets - Pension team is one of the top writers of pension risk transfer transactions in the US.  As our business continues to grow, the US pension underwriting team is looking to hire a professional with actuarial or defined benefit pension plan expertise. 

About The Role

Depending on the candidate’s background, the successful candidate will perform one or multiple of the following duties: (1) underwrite, assess pension risks, perform actuarial calculations, and assemble commitment agreements in technical aspects; (2) act as internal project manager in all technical aspects of onboarding new business across internal functions; (3) act as pension specialist to support call center through managing defined benefit pension plan’s benefit calculations, modeling, and testing; (4) act as pension specialist in drafting and reviewing defined benefit pension provisions in contracts from the actuarial modeling and pension administration perspectives before documents are utilized by call center, are delivered to individuals or are filed with state regulators; and/or (5) lead inforce governance and special projects assisting internal functions.

Responsibilities

• Explain technical actuarial and/or pension topics to Head of US PRT in New Jersey

• Be viewed as the defined benefit pension plan expert within the company

• Assess pension risks, calculate premiums, and customized contract terms affecting premiums or operations

• Guide onboarding and lead cross function collaboration

• Design or implement governance, controls, process, and procedures

• Review actuarial calculations and actuarial methodology in a controlled environment

• Execute actuarial model risk management framework including model development and testing

• Apply technical expertise to support Operations and Valuation teams and ensure successful implementation of new business leading to accurate and reliable financial reporting

• Think creatively and exercise sound judgment in leading projects

Skills & Qualifications

• Defined benefit pension plan experience

• Ability to interpret and implement complex pension plan benefit provisions as well as drafting of documents

• At least one of Pricing, Valuation, Actuarial Modeling, Pension Administration or Contract experience

• Pension benefit calculation modeling, testing, or production experience

• Project management experience

• Self-Starter who is comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem

• Awareness of governance best practice and controls required

• Competence in using Microsoft Office programs; familiarity with VBA coding a plus

• Ability to work and thrive in a dynamic team environment, possess excellent interpersonal, written and oral communication skills and having a comfort with explaining complex materials in a clear, focused, and concise manner

• Bachelors degree in Actuarial Science, Mathematics, Statistics, or related field

• Pursue one of the Society of Actuaries, the Enrolled Actuaries, or the American Society of Pension Professionals & Actuaries certification

Compensation

 The anticipated salary range for this position is $130,000 to $140,000 at the commencement of employment.  Not all candidates will be eligible for the upper end of the salary range. The actual compensation offered will ultimately be dependent on multiple factors, which may include the candidate’s geographic location, skills, experience and other qualifications.

In addition, the position is eligible for a discretionary bonus in accordance with the terms of the applicable incentive plan.

 

Corebridge also offers a range of competitive benefits as part of the total compensation package, as detailed below.

 

Work Location

This position can be located in Corebridge Financial’s Jersey City-NJ, Wilton-CT, Wilmington-DE, Houston-TX or New York-NY office and is subject to our hybrid working policy, which gives colleagues the benefits of working both in an office and remotely.

 

Estimated Travel

Minimal travel

Why Corebridge?

At Corebridge Financial, we prioritize the health, well-being, and work-life balance of our employees. Our comprehensive benefits and wellness program is designed to support employees both personally and professionally, ensuring that they have the resources and flexibility needed to thrive.

Benefit Offerings Include:

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location.  In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

Eligibility for and participation in employer-sponsored benefit plans and Company programs will be subject to applicable law, governing Plan document(s) and Company policy.

We are an Equal Opportunity Employer

Corebridge Financial, is committed to being an equal opportunity employer and we comply with all applicable federal, state, and local fair employment laws. All applicants will be considered for employment based on job-related qualifications and without regard to race, color, religion, sex, gender, gender identity or expression, sexual orientation, national origin, disability, neurodivergence, age, veteran status, or any other protected characteristic. The Company is also committed to compliance with all fair employment practices regarding citizenship and immigration status. At Corebridge Financial, we believe that diversity and inclusion are critical to building a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our colleagues are respected as individuals and valued for their unique perspectives.

Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees, including any accommodations needed on the basis of physical or mental disabilities or sincerely held religious beliefs.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to TalentandInclusion@corebridgefinancial.com.  Reasonable accommodations will be determined on a case-by-case basis, in accordance with applicable federal, state, and local law.

We will consider for employment qualified applicants with criminal histories, consistent with applicable law.

To learn more please visit: www.corebridgefinancial.com

Functional Area:

FA - Finance

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

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